Crypto

Ian Balina falls victim to a crypto theft during his live streaming

On fifteenth April, Ian Balina, a cryptocurrency investor and advisor who consistently hosts a live stream to a crowd of people, with almost  100,000 subscribers, reportedly fell victim to a hacking incident where all his Ethereum possessions were stolen.

The attack occurred whilst he was hosting a live stream where he was reviewing an ICO. Out of the blue, he was requested to sign back into his email account and that’s when he found out he had no access to it.

Balina later composed a statement providing clarification for his supporters, requesting that they guide him in tracking the allegedly $2 million in funds that he lost because of the hack.

Balina’s statement reads, “I guess this is how I got hacked. My college email was listed as a recovery email to my Gmail. I recollect receiving an email about it getting compromised and I attempted to follow up with my college security to get this matter fixed but I did not succeed in getting it handled in a quick way and so I quit,  thinking it was just an old email.”

He also revealed that Evernote, which was in some way linked to both of these emails had the private keys of his wallet stored.

A few clients on this gathering thought Balina was faking the incidence in an attempt to abstain from paying taxes just before the April seventeenth US Tax due date. However, given the lack of evidence to back these claims, this is just a speculation.

Balina’s post displays that he stored his ETH in three separate wallets. Similarly, the hacker that stole his funds transferred them to more three different wallets.

The hacked wallets which were revealed by Balina consist of token balances amounting up-to almost $750,000, which according to him makes up for a quarter of his entire wealth.

Back in the last week of the previous month, an analysis concluded that this is the same thing that transpired to the majority (now all) of the funds which were stolen from Coincheck.

In the future, these kinds of online assaults can possibly increase in number as human error is still the greatest factor in how individuals lose their assets.

By being so transparent about his wealth, Balina did not exactly do himself any favours, in fact, he unknowingly challenged hackers to come and loot all his crypto investments.

About the author

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John Mathhew

John Mathhew – The content head at Bittflex, he has done her PHD in English literature and masters in finance as well, he was introduced to the blockchain and crypto industry during her college time spending hours searching over the internet and was extremely fascinated and then took on the pace and started writing her own finance and crypto blogs. He has all the information on the subject we required and her writing skills are just fantastic. He really expresses herself beautifully through each and every article he delivers.

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